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Belfius Sustainable Medium

Marketing Communication. Please refer to the prospectus of the fund and to the key investor information document before making any investment decision. The documents can be obtained free of charge.

  • C Cap (BE0159411405)
    C Cap (BE0159411405)
View KID MIFID Cost Sheet
ISIN
BE0159411405
NAV - 18 APR 2024
EUR 8.04
AUM - 18 APR 2024
EUR 2,344,512,227.23
SFDR Category 
Article 8

Characteristics

Fund Characteristics

Fund name
Belfius Sustainable Medium
Benchmark
50% Bloomberg Euro-Aggregate 1-10 Year Index (Total Return) + 20% MSCI Europe (Net Return) + 20% MSCI USA (Net Return) + 7.5% MSCI Emerging Markets (Net Return) + 2.5% MSCI Japan (Net Return)
SICAV Name
Belfius Sustainable
Currency
EUR
Legal Form
Sub-fund of a SICAV under Belgian law
Fund type
UCITS
SFDR Category
Article 8
Creation Date
Term of the fund
The fund has no limited term
Domicile Country
Belgium
Management Company, having its registered office in Luxembourg
Belfius Asset Management S.A.
Delegated Management Company
CANDRIAM
Depository Bank
Belfius Banque S.A.
Transfer Agent
Belfius Banque S.A.
Recommended investment horizon
4 years
Swing Pricing System
no
Swing Pricing Description
Swing Pricing is a mechanism by which the net asset value is adjusted upwards (or downwards) if the change in liabilities is positive (or negative) in such a way as to reduce for existing investors the portfolio restructuring costs linked to subscription/ redemption movements in the fund. On valuation days where the difference between the amount of subscriptions and the amount of redemptions of a sub-fund (i.e. net transactions) exceeds a threshold set beforehand by the Board of Directors, the latter shall be entitled to:
- value the net asset value by adding to the assets (in the case of net subscriptions) or deducting from assets (at net redemptions) a fixed percentage of the fees corresponding to market practices and reflecting the fees and/or conditions of liquidity when buying or selling securities; - value the securities portfolio on the basis of bid or ask prices;
- assess the net asset value by setting a level of spreads representative of the relevant market;
- The dilution mechanism must not exceed 2% of the net asset value, except in exceptional circumstances, as in the event of a sharp decrease in liquidity, which would then be detailed for the sub-fund concerned in the annual (semi-) annual report of the SICAV.

Risks

Lower riskHigher risk
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Potentially lower return Potentially higher return
SRI Date
SRI Value
3
Definition
The summary risk indicator ("SRI") is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KID.
The summary risk indicator ("SRI") is a guide to the level of risk of this product compared to other products.
It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
Main Risks

Counterparty Risk: When the fund carry out over-the-counter transactions (i.e. involving instruments not listed on the markets), they are exposed to a risk of default by the counterparty to the transaction.

Credit risk: It constitutes the risk that an issuer or a counterparty default. This risk includes the risk of changes in credit spreads and default risk. The level of credit risk is usually evaluated by using “ratings” representing a comparative assessment of the credit quality (solvency level) of an issuer, issuer or portfolio. “High Yield” investments present the lowest rating levels and therefore a high credit risk.

Currency risk: Funds may hold exposure to a currency different from its valuation currency. Changes in the exchange rate of this currency may negatively affect the value of assets in the portfolio.

Derivative risk: Derivatives are investments whose value depends on (or is derived from) the value of an underlying instrument, such as a security, asset, reference rate or index. Derivative strategies often involve leverage, which may exaggerate a loss, potentially causing the Sub-Fund to lose more money than it would have lost had it invested in the underlying instrument. Using derivatives may result in a higher portfolio volatility related to this underlying asset and an increase of the counterparty risk.

Emerging market risk: These markets are characterized by higher volatility issues and a lower liquidity because of legal, political and structural matters. Market movements can be stronger and faster on emerging markets than on “developed markets”, which can lead to a substantial decline in the net asset value in the event of the adverse movements relative to the positions taken.

Equity Risk: Some funds may be exposed to equity market risk through direct investment (through transferable securities and/or derivative products), meaning submitted to the positive or negative evolution of stock exchanges. These evolutions can be huge and be mainly driven by expectations relative to macro-economy and company results, speculation and irrational factors (including trends, opinions or rumours).

Inflation risk: Inflation risk is predominantly caused by sudden changes in supply and demand for goods and products in the economy, by rises in commodities prices and by excessive wage hikes. It is the risk of receiving payment in a depreciated currency and obtaining a rate of return lower than the inflation rate.

Interest rate risk: A change in interest rates, resulting notably from inflation, may cause a risk of losses and reduce the net asset value of the fund.

Performance risk: Performance risk arises from the level of exposure to other risks, the type of management (more or less active) and the presence or absence of a protection or guarantee mechanism. Volatility is one of the indicators of performance risk.

Risk of loss of capital: Investors are advised that any capital they invest is not guaranteed and that they may therefore not receive back the full amount invested. They may thus suffer a loss.

Other Risks
Liquidity risk Settlement risk Sustainability Risk Volatility risk

Tax, Charges & Fees

Management fees (max)
1.30 %
Subscription
2.50 %
Redemption
0.00 %
Ongoing charges Date
Ongoing charges
1.68 %

Instrument

Name
C - Cap
Benchmark
50% Bloomberg Euro-Aggregate 1-10 Year Index (Total Return) + 20% MSCI Europe (Net Return) + 20% MSCI USA (Net Return) + 7.5% MSCI Emerging Markets (Net Return) + 2.5% MSCI Japan (Net Return)
Currency
EUR
ISIN
BE0159411405
Bloomberg Ticker
BAC2360 BB Equity
Morningstar Ticker
F0GBR04PBG
First NAV Date
1/4/96

Orders

NAV Date
D
NAV Calculation Day
D+3
Frequency valuation
daily
Subscription Cut off
D 16:00
Redemption Cut off
D 16:00

The corresponding time zone is the one associated with the fund's domicile.

ESG

SFDR Category: Article 8

Our approach to selecting environmental or social investments for the Candriam funds referred to in Article 8 of the SFDR*:

The fund’s investment strategy aims to promote environmental or social characteristics, or a combination of these characteristics, provided that the entities in which the investments are made apply good governance practices. To achieve this objective, the management team makes discretionary investment choices based on an economic/financial analysis process and an internal analysis of environmental, social and governance (ESG) criteria, based in part on data provided by external service providers.

a. ESG selection criteria:

For corporates, the internal analysis of ESG criteria consists in selecting the issuers:
• that are the best positioned to meet the challenges of sustainable development;
• that comply with the principles of the United Nations Global Compact (i.e. human rights, labour law, the environment, anti-corruption), and which are therefore less exposed to the risks associated with these themes; and
• that are not engaged in controversial activities such as armament (securities of a company whose activity consists of manufacturing, the use or possession of anti-personnel mines, cluster bombs and/or depleted uranium weapons), tobacco, thermal coal.

For sovereign issuers, the internal analysis of ESG criteria consists in selecting:
• Countries that perform best across our four categories of sustainable development criteria: Human Capital, Natural Capital, Social Capital and Economic Capital;
• Countries that are not part of our highly Oppressive Regimes or dictatorships, based on the Freedom House Freedom in the World Index and the World Bank Voice & Accountability Index.

b. Selection methodology:

The issuers favoured by the management company are subject to a dual analysis:
• Analysis of their activity to assess their alignment with the major challenges of sustainable development. For example, regarding the transition to a circular economy, the management company will consider a company producing recycled steel to be more sustainable than a company producing steel exclusively from iron ore; and
• Analysis of how the company manages players interacting with the company: its employees, its customers, its shareholders, its suppliers and the environment. Here too, the management company will favour companies that adopt the most sustainable practices given their sector. For example, with regard to relations with its clients, the management company will favour pharmaceutical companies with balanced pricing practices and commercial policies. Similarly, with regard to relations with their employees, the management company attaches great importance to the fight against discrimination and compliance with social standards.

Our sovereign investible universe consists of those countries which perform best across our four categories of sustainable development criteria:
• Natural Capital: stock of naturel resources managed by the country;
• Social Capital: trust, norms and institutions which people can rely on to solve common problems and create social cohesion;
• Human Capital: human productivity to which the country participates through education and other initiatives;
• Economic Capital: assessing the level of economic activity viability.

c. A team of ESG analysts is responsible for assessing the selection criteria:

ESG analysis and selection are carried out by a dedicated team of ESG analysts within Candriam. This team is made up of specialists whose mission is to analyse the exposure of companies and governments to the risks and opportunities associated with sustainable development. Selection criteria are expected to evolve over time, based on advances in ESG research and changes in company practices.

Sustainability-related disclosures

    b. Fund specific features

    Companies
    Controversial Activities :
    Level 3 - SRI Exclusion Policy
    Countries
    Norms Based :
    FATF , Oppressive Regime
    Main ESG Approach :
    ESG Integration
    Stewardship Active Ownership
    Proxy Voting
    Engagement
    KPI's
    Carbon footprint Corporate - Scope 1&2 25% reduction vs bench
    Companies Countries Stewardship Active Ownership KPI's
    Controversial Activities :
    Level 3 - SRI Exclusion Policy     		Norms Based :
    FATF , Oppressive Regime     		Proxy Voting Carbon footprint Corporate - Scope 1&2 25% reduction vs bench
    Main ESG Approach :
    ESG Integration     		Engagement
    Min Investments Environmental Social characteristics rate

    85%

    Min Sustainable Investments rate

    75%

    Min Sustainable Investments Environmental rate

    0%

    Min Sustainable Investments Social rate

    0%

    Min Investments Environmental Social characteristics rate

    85%

    		Min Sustainable Investments rate

    75%

    		Min Sustainable Investments Environmental rate

    0%

    		Min Sustainable Investments Social rate

    0%

For more information on the environmental or social characteristics of our investments, as well as the integration of sustainability risks, please refer to Candriam’s transparency policies and codes and SFDR Article 8 fund sustainability information (available on our website: https://www.candriam.com/en/professional/sfdr/) as well as the fund prospectus (available on our website https://www.candriam.com)

* SFDR is the acronym given in Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on the publication of sustainability information in the financial services sector.

Information on the sustainability aspects of the promoted fund is available on the SFDR* page of the https://www.candriam.com website. The decision to invest in the fund must take into account all the characteristics or objectives of the fund as described in its prospectus.
* European reference of the regulation and title: “Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability related disclosures in the financial services sector

Documents

  • C Cap (BE0159411405)
    C Cap (BE0159411405)
Languages

Legal documents

Shareholder documents

Annual and semi-annual reports

Other important information

This is a marketing communication. Please refer to the prospectus of the funds and to the key information document before making any investment decision. This marketing communication does not constitute an offer to buy or sell financial instruments, nor does it represent an investment recommendation or confirm any kind of transaction, except where expressly agreed. Although Candriam selects carefully the data and sources within this document, errors or omissions cannot be excluded a priori. Candriam cannot be held liable for any direct or indirect losses as a result of the use of this document. The intellectual property rights of Candriam must be respected at all times, contents of this document may not be reproduced without prior written approval.
Warning: Past performance of a given financial instrument or index or an investment service or strategy, or simulations of past performance, or forecasts of future performance does not predict future returns. Gross performances may be impacted by commissions, fees and other expenses. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change.
In respect to money market funds, please be aware that an investment in a fund is different from an investment in deposits and that the investment’s principal is capable of fluctuation. The fund does not rely on external support for guaranteeing its liquidity or stabilizing its NAV per unit or share. The risk of loss of the principal is borne by the investor.
Candriam consistently recommends investors to consult via our website https://www.candriam.com the key information document, prospectus, and all other relevant information prior to investing in one of our funds, including the net asset value (“NAV) of the funds. Investor rights and complaints procedure, are accessible on Candriam’s dedicated regulatory webpages https://www.candriam.com/en/professional/legal-information/regulatory-information/. This information is available either in English or in local languages for each country where the fund’s marketing is approved.
According to the applicable laws and regulations, Candriam may decide to terminate the arrangements made for the marketing of a relevant fund at any time.
Information on sustainability-related aspects: the information on sustainability-related aspects contained in this communication are available on Candriam webpage https://www.candriam.com/en/professional/sfdr/. The decision to invest in the promoted product should take into account all the characteristics or objectives of the promoted product as described in its prospectus, or in the information documents which are to be disclosed to investors in accordance with the applicable law.Specific information for investors in France: the appointed representative and paying agent in France is CACEIS Bank, Luxembourg Branch, sis 1-3, place Valhubert, 75013 Paris, France. The prospectus, the key investor information, the articles of association or as applicable the management rules as well as the annual and semi-annual reports, each in paper form, are made available free of charge at the representative and paying agent in France.

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